How Organizations Use Marketing Research to Contribute to the Development of Their Marketing Plans
Assignment: Describe how a selected organization uses marketing research to contribute to the development of its marketing plans
Primary and secondary research
Marketing research informs businesses, helps them make decisions and understand the changing dynamics of its market. To know all of this you need to research your customers, competitors and the overall marketing environment. With that information you can analyze the data and make conclusions to improve the marketing of your products of services. The assignment tells us to perform a primary research, we need to conduct a survey to get answers to our questions first hand, and this means that the information hasn’t been gathered before. So I’ll be focusing on primary
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This is because the research has to measure what it claims to be measuring. Marketers have to decide how reliable is the information obtained. This means that when another group containing different respondents or a different set of data points the responses should be similar. This has two elements namely that the data is reliable and will lead to consistent results and then the research should also be valid, it has to measure what it claims to measure. Validity is usually considered more important than reliability, because if an instrument does not accurately measure what is supposed to, there is no reason to use it even if it measures reliably. So if I have done my research right it should give the same findings and results if someone else would do it. But unfortunately I have not the available resources to claim that my research in pass 4 would be reliable it could be valid because it might be that I get similar answers from my respondents. For it to be reliable I would require internal information from BMW which I don’t have. So this means that the basis of my research is not reliable.
Then there is the part of the costs, one has to weigh up the cost of undertaking the research against the potential benefits that my result. You could spend a lot of time and effort in trying to solve a problem trough market research, only to find that